Sensex slumps over 500 points as global oil prices fall

January 06, 2015 09:39

BSE Sensex fell over 500 points today as a sharp fall in oil prices roiled global markets.

The Sensex fell to 27,330 at its day's low as Asian shares tumbled as sliding oil prices and political uncertainty in Greece forced investors out of risk assets and into the safety of government bonds, reports NDTV.

US crude crashed below $50 a barrel on Monday while benchmark Brent tumbled under $53 after data showed Russian oil output at post-Soviet era highs and Iraqi oil exports near 35-year peaks.

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